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Home / Metal News / Ferrochromium Prices were Strong as Downstream was More Concerned about the Output Cuts

Ferrochromium Prices were Strong as Downstream was More Concerned about the Output Cuts

Oct 19, 2022 16:13

Source:SMM

On Oct 19, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,500-8,700 yuan/mt (Cr50%) today, flat from the previous trading day.

SHANGHAI, Oct 19 (SMM) - On Oct 19, the high-carbon ferrochrome in Inner Mongolia was quoted at 8,500-8,700 yuan/mt (Cr50%) today, flat from the previous trading day.

Under the continuous reduction of ferrochrome production, the market was worried about the tight raw material supply affecting stainless steel production. In this scenario, downstream traders were more willing to buy at higher prices. The strike in South Africa gradually has subsided, but it will take time for the recovery of shipping capacity. The domestic miners are more confident. Coupled with the high costs of spot chrome ore, the short-term chrome ore prices will remain strong.

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